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p. 1004. NEP: politics and the economy

Abstract

In March 1921, many feared that the new regime in Russia would not survive. In response Congress endorsed the abandonment of forced requisitioning in favour of a tax in kind on the peasantry, calculated as a percentage of the harvest. This marked the inauguration of the New Economic Policy (NEP). ‘NEP: politics and the economy’ looks at the impact of the years of the NEP which turned into a wholesale repudiation of War Communism. Lenin saw the NEP as a transitional system in which market mechanisms would gradually strengthen the state sector at the expense of the private sector. One difference that marked the period of NEP was the abandonment of terror as an instrument of political rule.

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